Over 3,000 Food Items to Rise in Price in Japan in October, Annual Total May Hit 20,000
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
A survey by Japan's Imperial Database Company indicates that over 3,000 food products will increase in price in Japan in October 2024, including frozen foods, snacks, and beverages. Frozen food prices are expected to rise by 5% to 8%, snacks by 3% to 17%, and beverages by 5% to 21%. The company forecasts that approximately 20,000 food items will see price hikes throughout the year. In September 2024, nearly 5,000 food items rose in price, about three times the number from the same month last year, marking the largest monthly wave of increases this year. The survey attributes the price rises to higher costs of raw materials, energy, and logistics, as well as yen depreciation increasing import costs. Japan's core consumer price index (CPI), excluding fresh food, rose 1.7% year-on-year in August, with food prices excluding fresh food up 2.7%. The previous major wave of food price increases occurred in 2023, when over 32,000 items rose in price, the highest in 30 years.
Source report
A recent survey in Japan has revealed that more than 3,000 food products will see price increases in October, with the total number of items expected to rise by approximately 20,000 over the course of the year.
According to a survey conducted by Teikoku Databank, a leading Japanese corporate research firm, the company polled 195 major food and beverage manufacturers nationwide about their pricing plans. The results indicate that 3,033 food items—including frozen foods, snacks, and beverages—will increase in price this October.
- Frozen foods: price increases of 5% to 8%
- Snacks: price increases of 3% to 17%
- Beverages: price increases of 5% to 21%
Teikoku Databank projects that, based on current trends, approximately 20,000 food products will see price hikes across Japan this year.
In September, nearly 5,000 food items already rose in price—roughly three times the number recorded in the same month last year, marking the largest single-month wave of food price increases this year.
The research firm attributed the recent surge in food prices primarily to rising costs of raw materials, energy, and logistics. Additionally, the depreciation of the yen has increased import costs, further driving up food prices.
Data released by Japan's Ministry of Internal Affairs and Communications on September 18 showed that the country's core Consumer Price Index (CPI), excluding fresh food, rose 1.7% year-on-year in August—marking the 60th consecutive month of increase. The price of food items excluding fresh food rose 2.7% year-on-year.
Japan's previous major wave of food price hikes occurred in 2023, when more than 32,000 food items saw price increases—the highest number in 30 years—driven by sharp rises in raw material costs and the yen's depreciation, which raised import expenses.
Source
新华社Eastern
Part of this Story
Japan faces price hikes on over 3,000 food items in October 2024